China will kick off cross-border yuan lending in a pilot zone near Hong Kong on Monday, when eight to 10 Hong Kong-based banks sign agreements for yuan loans to mainland Chinese firms for the first time, the official Shanghai Securities News reported.
The agreements are a step towards opening China’s capital account and internationalising its currency. Reported by S.China Morning Post 9 hours ago.
The agreements are a step towards opening China’s capital account and internationalising its currency. Reported by S.China Morning Post 9 hours ago.